NEW YORK (AP) – Analysts say drivers can expect to see gasoline prices climb in the coming weeks.
While gas prices have held steady into early February, an increase is almost inevitable this time of year. The price of crude oil has risen 8 percent over the past month, to $100 per barrel. And analysts expect fuel supplies to begin to decline as refineries dial back production to perform maintenance and make the switch to summer fuels.
The increases are expected to be less severe than in the past few years, but Tom Kloza at Gasbuddy.com and the Oil Price Information Service says “they are going to be noticeable.”
Gasoline prices are already creeping higher. AAA says the nationwide average price has risen for seven days in a row to $3.34 per gallon, the highest level since October.
California, Connecticut and New York drivers are paying an average of $3.65 or more, the most in the lower 48 states. Montana and South Carolina drivers are paying $3.10 or less.
Category: National News